Howeycoins.com: The phony coin is named for the Howey Test, which can be used to determine whether a given asset meets the legal definition of a security or an investment contract like a stock or bond. The Howey Test has become a hot topic in cryptocurrency circles as the SEC grapples with whether or not some digital coins should be subject to regulations designed to protect investors against fraud.

Now that’s commitment: Kudos to the SEC for its thoroughness in designing a website that fits right in among the many out there selling scam coins. The agency even created a fake white paper (PDF). Now let’s hope prospective Howeycoin buyers learn their lesson.